BasicNet: JP Morgan Asset Management acquires 5% of capital

US investment group JP Morgan Asset Management acquired 5.024% of the stock of Italian group BasicNet, owner among others of the Kappa, Superga and K-Way brands. The information was made public by CONSOB, the regulatory authority for the Italian securities market.

BasicNet

The group, chaired by Marco Boglione, recently announced its intention of creating a new governance system with 5 vice-presidents, to be installed upon the next renewal of its board of directors in April 2016.

At that time, Gianni Crespi, currently a non-executive vice-president, will be appointed CEO. He will succeed Franco Spalla.

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